Examples of Applicability Date in a sentence
Insurance Agency and Financial Institution further acknowledge and agree that Insurance Company shall not be required, nor shall it have any responsibility, to determine if a transaction effected under a Covered Annuity on or after the Applicability Date was recommended by Insurance Agency or its subordinate agents or to otherwise provide any data or information regarding any Covered Annuities or any transactions therein.
It is understood and agreed that, unless Insurance Agency instructs Insurance Company otherwise in writing, Insurance Company will pay a commission on any purchase payment made after the Applicability Date to a Covered Contract issued before the Applicability Date, and will continue to pay any applicable trail commission after the Applicability Date on a Covered Annuity issued before the Applicability Date.
Insurance Agency and Financial Institution acknowledge and agree that Insurance Company shall not be required to, nor shall it, provide any investment advice, as defined under the DOL Fiduciary Rule, on or after the Applicability Date with respect to any Covered Annuity acquired or held by or as a Covered Retirement Plan for which Insurance Agency is the firm-of-record or for which the Financial Institution is a fiduciary under the DOL Fiduciary Rule.
With respect to any Covered Annuity acquired or held by or as a Covered Retirement Plan prior to the Applicability Date, Insurance Agency and Financial Institution understand that additional purchase payments made to the Covered Annuity and advice provided with respect to the Covered Annuity may be subject to the DOL Fiduciary Rule.
Note: The foregoing will not preclude participant education and guidance services under the Agreement(s) that do not constitute fiduciary investment advice after the final Applicability Date under the DOL Fiduciary Rule.
Applicability Date: For dates of applicability, see §31.3121(a)(5)-2T(b).
Accordingly, the Employer agrees that as of the final Applicability Date of the DOL Fiduciary Rule, the Agreement(s) will not be deemed to prohibit investment advice services to Plan participants that may constitute fiduciary investment advice under the DOL Fiduciary Rule.
With respect to any Covered Annuity acquired or held by or as a Covered Retirement Plan prior to the Applicability Date, the Agency understands that additional purchase payments made to the Covered Annuity and advice provided with respect to the Covered Annuity may be subject to the DOL Fiduciary Rule.
The Agency acknowledges and agrees that the Company shall not be required to, nor shall it, provide any investment advice, as defined under the DOL Fiduciary Rule, on or after the Applicability Date with respect to any Covered Annuity acquired or held by or as a Covered Retirement Plan for which the Agency is the firm-of-record or a fiduciary under the DOL Fiduciary Rule.
It is understood and agreed that, unless the Agency instructs the Company otherwise in writing, the Company will pay a commission on any purchase payment made after the Applicability Date to a Covered Contract issued before the Applicability Date, and will continue to pay any applicable trail commission after the Applicability Date on a Covered Annuity issued before the Applicability Date.